Turkish President Recep Tayyip Erdogan is embarking on a historic visit to Saudi Arabia, Qatar, and the UAE, aiming to bolster economic ties between Turkey and the Gulf countries. The three-day official trip, starting on Monday, will focus on enhancing cooperation and trade. Experts and officials suggest that President Erdogan seeks economic support from the Gulf Cooperation Council (GCC) countries to assist Turkey’s struggling economy. The visit comes after these countries have provided funding to replenish Turkey’s depleted foreign reserves, but higher expectations for economic collaboration lie ahead.
During the visit, President Erdogan voiced his aspirations for significant investment deals that could be implemented in Turkey or any of the three Gulf states. Experts attribute the recent improvement in relations between Ankara, Saudi Arabia, and the UAE, especially in the economic sphere, to changing regional dynamics and intensified diplomatic efforts.
Gulf Arab states and Turkey are leveraging the current de-escalation and diplomatic environment to explore unprecedented economic deals and political dialogue. With Turkey’s re-elected President Erdogan and the formation of a new cabinet, Gulf states perceive greater political and economic stability, enhancing prospects for foreign investment.
Anticipating the visit, experts expect it to pave the way for greater economic cooperation and alignment on regional security issues. Experts suggest that the signed trade and investment deals between Turkey and Saudi Arabia, as well as the UAE, signify only the initial phases of the Turkey-Gulf rapprochement. Market dynamics will play a crucial role in realizing foreign direct investment targets, shaping the uncertain nature of future economic engagement.
Additionally, Turkey’s shifting foreign policies, including the reduced support for Muslim Brotherhood-linked entities, contribute to the improved relations. With the United States showing decreased interest in providing the same level of political attention and security support to the Gulf region, geopolitical considerations are also evolving. The visit holds the potential for further deepening economic cooperation and fostering mutual benefits between Turkey and the Gulf countries.
